FutuAnnouncesFourthQuarterandFullYear2022UnauditedFinancialResults March28,2023 HONGKONG,March28,2023(GLOBENEWSWIRE)--FutuHoldingsLimited(“Futu”orthe“Company”)(Nasdaq:FUTU),aleadingtech-drivenonlinebrokerageandwealthmanagementplatform,todayannounceditsunauditedfinancialresultsforthefourthquarterandfullyearendedDecember31,2022. FourthQuarterandFullYear2022OperationalHighlights Totalnumberofpayingclients1increased19.5%year-over-yearto1,486,980asofDecember31,2022.Totalnumberofregisteredclients2increased17.5%year-over-yearto3,232,339asofDecember31,2022.Totalnumberofusers3increased12.7%year-over-yearto19.6millionasofDecember31,2022. Totalclientassetsincreased2.4%year-over-yeartoHK$417.5billionasofDecember31,2022. DailyaverageclientassetswereHK$383.1billioninthefourthquarterof2022,adecreaseof10.5%fromthesameperiodin2021. Totaltradingvolumeinthefourthquarterof2022declined10.9%year-over-yeartoHK$1.1trillion,inwhichtradingvolumeforUSstockswasHK$675.3billion,tradingvolumeforHongKongstockswasHK$396.6billion,andtradingvolumeforstocksundertheStockConnectwasHK$18.4billion.Totaltradingvolumein2022declined21.0% year-over-yeartoHK$4.9trillion. Dailyaveragerevenuetrades(DARTs)4inthefourthquarterof2022declined12.7%year-over-yearto475,005.DARTsin2022declined8.1%year-over-yearto588,941. Marginfinancingandsecuritieslendingbalancedeclined12.2%year-over-yeartoHK$26.6billionasofDecember31,2022. FourthQuarter2022FinancialHighlights Totalrevenuesincreased42.3%year-over-yeartoHK$2,280.7million(US$292.3million).Totalgrossprofitincreased39.9%year-over-yeartoHK$1,938.5million(US$248.5million).Netincomeincreased92.2%year-over-yeartoHK$958.7million(US$122.9million). Non-GAAPadjustednetincome5increased90.2%year-over-yeartoHK$1,014.5million(US$130.0million). FullYear2022FinancialHighlights Totalrevenuesincreased7.0%year-over-yeartoHK$7,614.0million(US$976.0million).Totalgrossprofitincreased12.0%year-over-yeartoHK$6,617.9million(US$848.3million).Netincomeincreased4.2%year-over-yeartoHK$2,926.9million(US$375.2million). Non-GAAPadjustednetincomeincreased7.6%year-over-yeartoHK$3,131.4million(US$401.4million). Mr.LeafHuaLi,Futu’sChairmanandChiefExecutiveOfficer,said,“Weaddedover240thousandpayingclientsin2022,bringingtotalpayingclientstoaround1.5million.Inthefourthquarter,clientacquisitiondeceleratedacrossallregionsduetoweakmarketperformanceinthefirsthalfofthequarterandconcernsoverthesustainabilityofmarketreboundinthesecondhalf.InHongKong,clientsover35yearsoldcontributedover50%ofournewpayingclientsinthequarter,asweconductedonlinemarketingandhostedofflineeventstoincreasetouchpointswiththispopulation.IntheU.S.,wecontinuedtoprioritizeclientqualityoverquantity.Theaveragenetassetinflowofnewpayingclientsintheirfirstmonthofonboardingincreasedbyabout40%comparedtothethirdquarter.InSingapore,clientacquisitionwasresilientasinterestinfixedincomefundproductsremainedelevated.” “Totalclientassetsincreasedby2.4%year-over-yearand12.9%quarter-over-quartertoHK$417.5billion,drivenbymarketappreciationofourclients’HongKongstockholdingsandrobustnetassetinflowacrossallregions.Marginfinancingandsecuritieslendingbalancedeclinedby10.0%sequentiallyasclientsunwoundsomeoftheirmarginpositionsduringmarketrebound.” “Totaltradingvolumewasflattishquarter-over-quarteratHK$1.1trillion.HongKongstocktradingvolumegrew30.7%sequentiallytoHK$396.6billionasthemarketrallysinceNovemberdroveelevatedtradingactivities,especiallyinsomeChinaneweconomycompanies.U.S.stocktradingvolume,ontheotherhand,declined10.2%quarter-over-quartertoHK$675.3billionduetoadirectionlessmarketandweaksentimentsaroundkeytechnologynames,partiallyoffsetbyresilienttradingturnoverinleveragedandinverseETFs.” “Thegrowthmomentumofourwealthmanagementbusinesssustainedintothefourthquarter,asclientspiledintomoneymarketfundsamidinterestratehikestotakeadvantageofhigheryields.TotalassetbalancewasHK$31.6billion,representinga68.0%growthyear-over-yearand21.6%growthquarter-over-quarter.InHongKong,weexpandedstructuredproductofferingstomeetdifferentrisk-returnobjectivesofourhigh-net-worthclientsduringmarketturmoil.InSingapore,weonboardedcommodityfundsandalternativefundstohelpclientsdiversifytheirportfolios.” “Ourenterprisebusinesshad333IPOdistributionandIRclientsaswellas638ESOPclients,up41.1%and59.5%year-over-year,respectively.Ofall28companieslistedin2022withmarketcapitalizationoverHK$10billionbytheendoftheyear,23ofthemhaveusedoneormoreofourenterpriseproductofferings.Inthequarter,weactedasjointbookrunnersforseveralhigh-profileHKIPOs,includingthoseof360DigiTechandWeilongDelicious.” Mr.ArthurYuChen,Futu’sChiefFinancialOfficer,added,“WeannouncedinMarch2022thatourboardofdirectorshadauthorizedanewsharerepurchaseprogram,underwhichwemayrepurchaseuptoUS$500millionworthofourADSs,untiltheendof2023.AsofDecember31,2022,wehadrepurchasedanaggregateof8millionADSswithapproximatelyUS$250milliontotalrepurchasedamountinopenmarkettransactions.Thisconstitutedabout50%ofthemaximumpurchaseamountapprovedunderoursharerepurchaseprogram.” FourthQuarter2022FinancialRe